Wednesday, June 4, 2014

I just saw this on FOREX.com

I think you might enjoy this article: Reuters News BRIEF-Competition Tribunal imposes R534 million penalty on Sasol for over charging.

June 5 (Reuters) - Competition Tribunal

* Jse: competition tribunal imposes r534 million penalty on sasol for over charging

* Found sasol chemical industries limited , a subsidiary of sasol ltd (sasol), guilty of charging domestic customers excessive prices for purified propylene and polypropylene between january 2004 and december 2007.

* Tribunal imposed a penalty of r205.2 million in case of purified propylene and r328.8 million in respect of polypropylene

* Tribunal imposed a penalty of r205.2 million in case of purified propylene and r328.8 million in respect of polypropylene

* Also imposed remedies for determining scis future pricing of both purified propylene and polypropylene that would see scis prices charged to local customers drop

* Concluded that scis exercise of market power and its excessive prices have resulted in a missed opportunity for innovation and development for domestic manufacture of downstream plastic goods

Source text for Eikon: ID:nJseE0026a Further company coverage: SOLJ.J

((Johannesburg Newsroom; +27 11 775 3155))

Keywords: COMPETITIONTRIBUNAL/BRIEF








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